Funny how the agricultural industry is that place where you can find some of the richest people, and also some of the poorest people. The difference is not in farming skills, but in business skills, structure and people. As a business, Green Gold Africa is an agro-technology organization focused on promoting trade and investment in the agricultural sector in order to increase the profitability of small and medium-sized actors.
Green Gold Africa CEO Gideon Isaac Omoyibo explained in the Nairametrics Business Half Hour that many people will learn different farming skills while skipping the business part. “We are helping smallholder farmers, agribusinesses and grassroots communities by focusing on the elements and the business structure that will make the organization successful and functioning properly.”
As a technology-driven agricultural platform, Green Gold Africa’s vision is to eradicate food insecurity in Africa, and much of that vision will come from investing in commercially viable businesses with high growth potential.
Omoyibo recounted that he decided to venture into this space after providing loans to market women and agricultural sector cluster groups for more than a decade and observing that people rarely used the loans for their intended purposes. . After working for a few months, he ventured out on his own by offering small loans to farmers and traders to boost their businesses.
“The vision is to eradicate food poverty, but I have noticed that when some of these people take loans and use them for other purposes unrelated to the vision. This prompted me to start thinking about ways in which we could be more directly involved and have a direct impact on the agricultural sector. The business model has shifted from distributing money to women in the market to working on structures and helping to make food available at an affordable price ”, he explained.
To kick things off in 2017, they started retailing and trading agricultural products from farms across Nigeria. While this is an easy way to get into the space, it would be their first move to help farmers minimize postharvest losses due to the lack of a market to sell their produce.
Post-harvest losses are one of the reasons why farmers do not get corresponding returns for their efforts in agriculture. Most farmers are unable to mobilize the logistics to get their produce to consumers. If all products can be moved from farms to consumers in a short time, losses will be minimized, in goods and in cash. Getting food to consumers on time was also part of a larger plan to make food available and affordable.
Subsequently, Green Gold Africa retreated in processing and packaging. Recently, the company has also ventured into planting cassava, which would then be processed into other products.
Although Green Gold Africa has been launched since its inception, its doors are now open to partnerships and collaborations as the founders want to make it a platform where other companies and stakeholders can connect and collaborate rather than compete.